Concept:A potentiometer is a three-terminal variable resistor used to control resistance and divide voltage.Explanation:It has a sliding contact that moves or rotates to change the resistance.By varying resistance, it acts as a voltage divider circuit.It is also used to measure unknown voltage or EMF by comparing it with a known standard voltage.This comparison works on a null or balance condition, which gives high accuracy and draws no power.Therefore, a potentiometer is essentially a variable resistor or rheostat.